ERHC Energy Inc (ERHE)

[ssc]

Where do you see anything in this update that says they are "on schedule" and "on time"? Where is anything that says drilling will begin in March? I read this:

We continue to work relentlessly toward a spud date for the Tarach-1 well near the end of the first quarter of 2016.

Where did they "affirm ON TIME"?

It is good news that work is continuing toward drilling. It will be interesting to learn why the 10-Q is not ON TIME.

Even more interesting is this:

ERHC has paid all cash calls relating to its obligations for the costs of the well to date.

The 10-Q should give a better idea of how much cash they still have and whether or not more dilutive fund raising will be necessary to meet their "25 percent of its proportionate share of the costs of well".

With toxic conversion price now as low as 3 cents, any additional financing could send the outstanding share count much higher.